SAN DIEGO, April 11, 2016 /PRNewswire-USNewswire/ --
Shareholder rights law firm Johnson & Weaver, LLP is
investigating whether the board members of The Fresh Market, Inc.
(NASDAQ: TFM) breached their fiduciary duties in connection with
the proposed sale of the Company to Apollo Global Management,
LLC.
Additional Information:
The Fresh Market operates as a specialty grocery retailer in
the United States.
On March 14, 2016, The Fresh
Market announced it had signed a definitive merger agreement with
Apollo. Under the terms of the agreement, Apollo will acquire all
of the outstanding shares of common stock of The Fresh Market for
$28.50 per share in an all cash
transaction.
The investigation concerns whether The Fresh Market's board
failed to satisfy their duties to the Company shareholders,
including whether the board adequately pursued alternatives to the
acquisition and whether the board obtained the best price possible
for The Fresh Market's shares of common stock. Nationally
recognized Johnson & Weaver is investigating whether the
proposed deal price represents adequate consideration, especially
given one Wall Street analyst has a $44.00 price target on the stock. The
Fresh Market 52-week high was $42.07.
In particular, Johnson & Weaver is concerned that The Fresh
Market's members of management, who plan to stay with the Company
after the deal is completed and will convert their interests in The
Fresh Market into the post-close entity, sacrificed shareholders'
interests in favor of their own.
If you are a shareholder of The Fresh Market and believe the
proposed buyout price is too low or you're interested in learning
more about the investigation or your legal rights and remedies,
please contact lead analyst Jim
Baker (jimb@johnsonandweaver.com) at 619-814-4471. If
emailing, please include a phone number where you can be
reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder
rights law firm with offices in California, New
York and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonandweaver.com. Attorney advertising. Past results
do not guarantee future outcomes.
Contact:
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com
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SOURCE Johnson & Weaver, LLP